LKAB nominated for sustainability award in China

LKAB Trading in Shanghai was nominated for an award in recognition of the company's work towards sustainability and reached the final.

LKAB Trading in Shanghai was nominated for an award in recognition of the company's work towards sustainability and reached the final.

"Even though we didn't take the gold, it feels like we won a medal. We are very proud and pleased to have gained recognition for our sustainability effort at this level," says Anders Lundgren, CEO & President, LKAB Trading in Shanghai.Launched by Deloitte China, the Deloitte China Sustainability Awards is an initiative supported by The United Nations Development Programme (UNDP). The aim is to encourage and reward best-practice corporate sustainability among multinationals in China. The awards recognize companies’ achievements in adopting sustainable business practices under five standard categories: leadership, innovation, environment, social performance and community investment. "I'm convinced that, if we put our mind to it, we can win the award next year. Our ambition is to be the world's leading mining company," says Anders Lundgren. Interest in sustainability has increased throughout the world. All participating companies have abundant opportunities for networking with other multinationals in China. Participation also opens doors to contact with important governmental bodies, foreign embassies, chambers of commerce and trade organizations in China.

Why is the award important for LKAB? "LKAB's ambition is to be the world's leading mining company, and this demands commitment to responsible action in every facet of our operations. That LKAB Trading was nominated and placed among the finalists in the Deloitte and UNDP Sustainability Awards shows just how seriously we take sustainability. We consider it a natural part of our business, regardless of the operating location. Maintaining the LKAB brand and focusing on sustainability issues in our operations in China is one of my most important tasks. The nomination is a good indication of the values LKAB stands for and it confirms that we are on the right path," adds Anders Lundgren.

In what way does LKAB Trading work to promote sustainability?"We purchase products in China and we are aware that there is a risk of going astray, so to speak. It is essential that we maintain full control over our entire supply chain. We put a lot of effort into assessing our suppliers on the Asian market, but we also try to help them to understand and live up to our requirements," says Anders Lundgren.

LKAB Trading in Shanghai is a small company with six employees. The company, a wholly owned subsidiary of state-owned LKAB, began operating in China in 2011. The aim is to create an efficient purchasing system by reducing the number of middlemen who contribute no added value and to find suppliers in more locations, so as to stimulate competition. Purchases vary from consumables used in production and spare parts to full-scale mineral processing equipment for mining in the orefields of northern Sweden.